Ms. Mahima Poddar reports

EQ BANK STRENGTHENS BIN SPONSORSHIP BUSINESS THROUGH EXPANDED COLLABORATION WITH BERKELEY PAYMENTS

EQB Inc.'s EQ Bank and Berkeley Payments are collaborating to launch prepaid cards in Canada, leveraging EQB's card infrastructure. This enables EQ Bank to support the needs of the financial technology community, while enhancing its BIN sponsorship business, which has been growing steadily since 2022.

In September, 2023, together with Berkeley Payments, EQ Bank assumed ownership of over 120 commercial programs for reloadable and non-reloadable prepaid cards from a large Ontario credit union. As part of this rollout, prepaid cards of varied use cases (incentive programs, reimbursements, early wage access etc.) will be managed by Berkeley Payments under EQ Bank's sponsorship.

"Equitable Bank is delighted to serve as an issuing BIN sponsor for Berkeley Payments and drive innovative use cases for prepaid cards in Canada," said Mahima Poddar, group head of personal banking at Equitable Bank. "This collaboration will offer Canadian consumers and businesses cutting-edge prepaid solutions and greater flexibility for making payments."

"Berkeley is thrilled to partner with EQ Bank on prepaid BIN sponsorship," said Berkeley chief executive officer Lawrence Tepperman. "This will enable more competition and options for the Canadian marketplace."

About EQB Inc.

Equitable Bank -- Canada's Challenger Bank -- is a wholly owned subsidiary of EQB, which trades on the Toronto Stock Exchange and serves more than 543,000 customers. Equitable Bank's wholly owned subsidiary Concentra Bank supports Canadian credit unions and their more than six million members. With more than $108-billion in combined assets under management and administration, Equitable Bank has a clear mandate to drive change in Canadian banking to enrich people's lives. Founded more than 50 years ago, Canada's Challenger Bank provides diversified personal and commercial banking, and through its digital EQ Bank platform has been named the top Schedule I bank in Canada on the Forbes World's Best Banks 2021, 2022 and 2023 lists.